Impala Platinum records 17% output increase in Q1 2016
Thursday, 28 April 2016 14:28
During the first quarter of 2016, miner Impala Platinum produced 353,000 ounces of platinum, up 17% from 301,000 ounces in Q1 2015.
The increase is mainly due to higher output at its Zimbabwean mine which produced 89,000 oz during the quarter, compared to 52,000 oz over the same period last year. Moreover, the firm had good results at its Marula and Two Rivers Mimosa mines, in South Africa, which, in addition to volumes provided by Impala Refining Services (IRS) increased Impala’s platinum output by 32.9%.
However, the company also had some major drawbacks. Out of a total of six deaths, Implats recorded two deaths at Impala Rustenburg and one at Mimosa.
The firm plans this year to produce 1.42 million ounces of refined platinum at an average cost of R22500/oz.
Impala operates, in Zimbabwe, the Ngezi mine in which it detains a 30% stake. The Johannesburg-based company contributes 22% of platinum produced worldwide.
Louis-Nino Kansoun
Live News
-
Ethiopia opens $10.9mln cold storage hub to curb food losses and support exports
19:18
-
Egypt plans law to regulate children’s use of social media
18:56
-
Togo reviews inclusive finance fund strategy to expand access nationwide
18:32
-
Algeria launches first sovereign sukuk to raise $2.3bn for public projects
18:08
-
U.S., Togolese Lawmakers Discuss Formal Dialogue on Health, Food Security, Security
15:30
-
Gabon Launches Digital Skills Program for 1,000 Youths With U.S. Firm Cybastion
15:27
-
Somali Parliament Approves Cybersecurity Law Amid Rising Threats
15:23
-
Fintura Founder Bernice Houy Targets Efficiency in Accounting Firms
15:20
-
Nicolas van Zyl Rethinks Online Advertising With Social-First Formats
15:15
-
SOCAPALM Cuts Dibombari Estate by 23%, Returns 2,566 Hectares to State for Community Use
14:15
The BoxCommerce–Mastercard Partnership introduces prepaid cards, giving SMEs instant access to e...
Circular migration is based on structured, value-added mobility between countries of origin and host...
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...
President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...
Ethiopia inaugurated a large cold storage facility for fruits, vegetables, and animal products in Addis Ababa. The $10.9m project targets...
Egypt’s parliament plans legislation to regulate children’s access to social media. Lawmakers aim to limit psychological and behavioral risks linked to...
Togo’s inclusive finance fund reviewed its model to adapt to economic and social changes. New priorities for 2026 focus on efficiency, coordination,...
Algeria issued its first sovereign sukuk worth about $2.3bn to fund development projects. The 7-year sukuk offers a fixed annual return of 6%,...
The Khomani Cultural Landscape is a cultural site located in northern South Africa, in the Northern Cape province, near the Kgalagadi Transfrontier Park....
Three African productions secured places among the 22 films competing for the Golden Bear at the 76th Berlin International Film Festival. Berlinale...